Page 202 - ALEF EDUCATION PR REPORT MAY 2024

5/22/24, 2:23 PM Alef Education Holding plc announces its intention to list on the Abu Dhabi Securities Exchange | MENAFN.COM
Selling Shareholders following the Listing shall be subject to a lock-up from the date of the
Underwriting Agreement up to and including 180 days from the Listing, subject to certain

terms and conditions.

The details of the Offering will be included in the UAE Prospectus and public subscription
announcement (the “Public Announcement”) with respect to the First Tranche Offering and the
English-language International Offering Memorandum with respect to the Second Tranche

Offering. The UAE Prospectus and the Public Announcement will be published today, and the

International Offering Memorandum is expected to be published in due course. The UAE
Prospectus and the International Offering Memorandum will be available at

First Abu Dhabi Bank PJSC has been appointed as listing advisor (“Listing Advisor”). First Abu
Dhabi Bank PJSC, and EFG Hermes UAE Limited (acting in conjunction with EFG Hermes

UAE LLC) have been appointed as joint lead managers and joint bookrunners (the “Joint Lead
Managers”). First Abu Dhabi Bank PJSC has also been appointed as lead receiving bank

(“Lead Receiving Bank”) alongside Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank,
and Al Maryah Community Bank as receiving banks for the individual investors’ tranche.

The Internal Shariah Supervision Committee of First Abu Dhabi Bank PJSC has issued a
pronouncement confirming that, in their view, the Offering is compliant with Shariah principles.

Investors may not rely on this pronouncement and should undertake their own due diligence
to ensure that the Offering is Shariah compliant for their own purposes.

Dividend Policy

Alef Education intends to maintain a dividend policy designed to maximise shareholder value
and reflect its strong earnings potential and cash flow generation, while allowing it to retain

sufficient capital to invest in its long-term growth (including strategic acquisitions).

Always subject to Board of Directors, general assembly approval, and factors detailed below,
Alef Education:

● Intends to adopt a semi-annual dividend distribution policy to pay cash dividends after the
Offering twice each financial year, with an initial payment of the first-half results being paid in
the fourth quarter of that year and a second payment following second-half results being paid

in the second quarter of the following calendar year.
● Expects to pay a minimum dividend payout ratio of 90% of the net profit generated for both

financial years 2024 and 2025.
● Further, the Company intends to pay a target minimum dividend amount to investors

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